JPMorgan Global PMI: Report on Manufacturing and Services - July 3, 2013
Global Economic Growth Slows at End of Q2 2013
At 51.4 in June, down from 52.9 in May, the Global All-Industry Output Index — produced by JPMorgan and Markit in association with ISM and IFPSM — posted its lowest reading in a year. The index has nonetheless remained in expansion territory throughout the past 47 months.
The weaker rate of increase signaled during June was mainly due to a sharp slowdown in global service sector growth, in turn largely the result of a marked deceleration in the US non-manufacturing industry. Subsequently, growth of US all-industry output eased to its weakest during its current near four-year sequence of expansion.